Mission Lane Visa® Credit Card review: Short-term credit building at a low cost
An unsecured option for people with bad to fair credit scores.
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Snapshot
3.4
Bottom line
This low-cost, unsecured credit-building card could be worthwhile if you want to skip paying a deposit on a secured card — although it’s a pricier option.
Best low-cost unsecured card
Intro offer
N/A
Rewards Rate
N/A
Annual fee
$0 - $59
Regular APR
19.99% - 33.99% (Variable)
4.0
Cardholder rating
Meets needs
Online tools
Customer service
Information safe
3.4
Bankrate score
Why you'll like this: Its fees are relatively low and you won’t have to tie up hundreds in a security deposit.
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Mission Lane Visa® Credit Card overview
The Mission Lane Visa® Credit Card doesn’t come with many perks or benefits, but this credit-building unsecured card might make sense if you have a bad credit score, limited credit history or want a cost-conscious way to boost your score. You won't find any hidden fees common among subprime cards, and its annual fee is reasonable.
However, the card’s unimpressive starting credit limit, bland perks and potential annual fee mean a traditional secured credit card may be a better option. Not only can they be less expensive, but they can also help you build credit more effectively and possibly earn rewards. If you have fair or average credit, you can find a lower-cost, unsecured alternative among the best credit cards for fair credit.
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Rewards
- This card does not offer rewards.
Expert Appraisal: Typical
See our expert analysis -
Rates and fees
- $0 to $59 annual fee
- 3 percent foreign transaction fee
- No security deposit required
- 19.99% - 33.99% (Variable) APR.
Expert Appraisal: Typical
See our expert analysis -
Credit-building features
- Opportunity for a credit line increase
- Reports activity to the three credit bureaus
- Mobile app and financial education tools
Expert Appraisal: Typical
See our expert analysis -
Other cardholder perks
- $0 fraud liability
- 24/7 pay-per-use roadside dispatch
- 24-hour support for lost or stolen cards
Expert Appraisal: Unimpressive
See our expert analysis
Mission Lane Visa pros and cons
Pros
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The potential for a low or no annual fee makes this an accessible credit-building option, especially if you don't want to put down a deposit with a secured card.
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You could qualify with a bad-to-fair credit score, and pre-approvals won’t affect your credit score.
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With consistent good habits, you might get a credit limit increase over time, making it easier to keep your credit utilization in check.
Cons
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This card has a high APR for a credit-building card, which is risky if you’re inexperienced with credit or struggle to pay off your balance each month.
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The annual fee can be up to $59 per year. Plenty of secured cards don’t charge an annual fee and have a refundable security deposit.
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The card’s minimum starting credit limit is typically $300. This is better than the usual $200, but it’s still low enough to make it tough to maintain good credit utilization.
Why you might want the Mission Lane Visa
The Mission Lane Visa is a decent card for rebuilding credit. Although it’s a no-frills credit card, it can be a fairly low-cost option if you want to avoid a security deposit.
Rates and fees: No security deposit and potential for no annual fee
The Mission Lane Visa card’s potential annual fee may put you off, but it’s relatively low for an unsecured card for people with bad credit. Plenty of unsecured cards for poor credit charge closer to $100 in annual fees, with some adding account activation fees and even higher annual or monthly fees in your second year.
Even if you’re charged an annual fee, it could be more cost-effective than the $200 minimum security deposit most secured cards require, and a secured card would require a matching deposit if you want a higher limit. Meanwhile, the Mission Lane Visa typically starts you off with at least a $300 credit line without an upfront deposit. Although many secured cards don’t have an annual fee and will refund your deposit once you’ve closed your account or upgraded to an unsecured credit line, the Mission Lane is one of the better options if you prefer a lower initial upfront cost and plan to boost your credit in a quick timeframe.
Credit-building features: Chance at a credit limit increase
Though you may start with a credit limit as low as $300 on the Mission Lane Visa (common for unsecured credit-building cards), the issuer gives you a chance to earn a credit limit increase by demonstrating responsible card use. If you make your payments on time, stay under the credit limit and keep your account in good standing, Mission Lane will automatically review your account at least once within your first year and may approve you for a higher limit.
A higher limit should make it easier to keep your credit utilization ratio — the amount of money you’ve borrowed compared to your total available credit — in check. Ideally, you’ll want to keep it under 30 percent of your total limit to avoid damaging your credit score in the long run, which means spending less than $100 monthly if you get approved at the Mission Lane Visa’s starting limit.
Why you might want a different credit-building card
The Mission Lane Visa doesn’t offer much beyond its credit-building features and accessibility to people with bad or fair credit. You’ll want to look at other cards if you want extra incentives like rewards, more attractive perks or lower fees.
Rewards: No rewards program or welcome offer
This isn’t uncommon for credit-building cards, but the Mission Lane Visa card’s lack of a rewards program makes it a tough sell for long-term value. Because it also doesn’t provide an introductory APR offer or a welcome bonus offer, you won’t get much additional short-term value out of this card, either. The Mission Lane Visa card’s lack of rewards is also disappointing since several secured cards, such as the Discover it® Secured Credit Card, offer rewards with no credit history.
The likelihood of finding a card, secured or unsecured, that gives you rewards with a lower annual fee only goes up as your credit gets higher. You might qualify for unsecured cards with rewards programs if you already have fair credit.
Cardholder perks: Not much beyond basic Visa benefits
The Mission Lane card comes with basic Visa benefits like $0 fraud liability and 24-hour customer service. However, virtually all Visa credit cards come with perks like these. This doesn’t expand the card’s value, but it shouldn't be considered a major drawback, either, since credit-building cards typically don’t offer many noteworthy benefits. Still, if you want more credit-building features like credit score monitoring, you can likely find other cards that include a few more tools.
Staff experience: Here’s what our experts say
Bankrate credit cards writer Garrett Yarbrough started his credit-building journey with an unsecured starter card like the Mission Lane Visa. But his card charged no annual fee, making it easier to focus on building credit.
“I got my first credit card as a teenager so that I could start building credit before college. It was similar to this one — a basic unsecured card with my credit union — but it didn’t charge an annual fee. If you have the option to be an authorized user or apply for a low-cost secured or student card, I’d recommend that over a card like this. It’ll give you less to worry about as you build credit.”
How the Mission Lane Visa card compares to other credit-building cards
Though the Mission Lane Visa card might be one of the best options for people with bad credit who want to avoid a security deposit, it can be costlier and more difficult to build credit with than secured cards. Here are some additional strong credit-building options to compare.
Mission Lane Visa® Credit Card
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Rewards rate
10% cashback* on SuperTravel purchases. 5% cashback* on SuperShop purchases for 500+ of your favorite store. 2% cashback* on everyday purchases anywhere MasterCard® is accepted.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Who is the Mission Lane Visa right for?
While a secured card may be a better overall choice, the Mission Lane Visa can prove helpful if you have bad credit and want a low-maintenance card or want to avoid the upfront cost of a security deposit.
Bankrate’s Take — Is the Mission Lane Visa card worth it?
Given its relatively low annual fee, the Mission Lane Visa could make sense as a short-term unsecured credit-building card, but it’s probably not your best option overall. While it charges fewer fees than many cards in this category, a secured card with rewards, no annual fee or a lower APR will likely save you more. Still, this card will get the job done if your goal is building credit without putting down a security deposit.
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring credit cards for students and people building credit, including each card’s cost, APR, credit-building tools and more.
We analyzed over 50 of the most popular cards designed for students and people with no credit history, bad credit or a fair credit score and scored each based on where its key features stood in relation to others in its category.
Here are some of the key factors that gave this card its score:
Frequently asked questions
What cardholders think
Mission Lane Visa® Credit Card
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.